Blue Apron swings to a loss

Blue Apron Holdings Inc. shares fell 2.5% in Tuesday premarket trading after the meal-kit company swung to a second-quarter loss. Net loss totaled $18.6 million, or 98 cents per share, after net income of $1.1 million, or 8 cents per share last year. Revenue of $124.0 million fell from $131.0 million. The FactSet consensus was for a loss of 89 cents and revenue of $124.3 million. Blue Apron had 375,000 customers as of June 30, down from 396,000 last year. Average order value was up to $62.72 from $60.88. And average revenue per customer was $330, nearly flat with $331 last year. Blue Apron continues to expect high single-digit to low double-digit net revenue growth for 2021. The FactSet consensus is for revenue of $497.7 million, implying 8% growth. Blue Apron stock has slumped 21.1% for the year to date while the S&P 500 index has gained 16.8% for the period. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Blue Apron swings to a loss
Blue Apron Holdings Inc. shares fell 2.5% in Tuesday premarket trading after the meal-kit company swung to a second-quarter loss. Net loss totaled $18.6 million, or 98 cents per share, after net income of $1.1 million, or 8 cents per share last year. Revenue of $124.0 million fell from $131.0 million. The FactSet consensus was for a loss of 89 cents and revenue of $124.3 million. Blue Apron had 375,000 customers as of June 30, down from 396,000 last year. Average order value was up to $62.72 from $60.88. And average revenue per customer was $330, nearly flat with $331 last year. Blue Apron continues to expect high single-digit to low double-digit net revenue growth for 2021. The FactSet consensus is for revenue of $497.7 million, implying 8% growth. Blue Apron stock has slumped 21.1% for the year to date while the S&P 500 index has gained 16.8% for the period. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.